Family Legacy Inc. Acquires Shares of 13,625 The Boeing Company $BA

Key Points

• Family Legacy Inc. acquired 13,625 Boeing shares during the second quarter, valued at approximately $2.95 million. Institutional investors and hedge funds collectively own 64.82% of Boeing’s outstanding stock.
• Analyst sentiment remains mixed: Barclays, Wolfe Research and Goldman Sachs recently downgraded Boeing, while Tigress Financial raised its price target to $305. MarketBeat reports a consensus “Moderate Buy” rating and a $272.58 average price target.
• Boeing’s latest quarter showed revenue rising 8% year over year to $24.56 billion, but the company posted an adjusted loss of $0.76 per share, missing expectations. Shares recently opened at $231.50, within a 12-month range of $176.77 to $254.35.

Family Legacy Inc. bought a new position in shares of The Boeing Company (NYSE:BA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,625 shares of the aircraft producer's stock, valued at approximately $2,949,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Boeing by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 70,989,438 shares of the aircraft producer's stock worth $15,413,227,000 after purchasing an additional 3,460,021 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Boeing by 245.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,252,450 shares of the aircraft producer's stock valued at $489,052,000 after buying an additional 1,600,909 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Boeing by 43.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,907,876 shares of the aircraft producer's stock worth $840,204,000 after buying an additional 1,176,074 shares during the period. Viking Global Investors LP boosted its stake in shares of Boeing by 31.3% during the fourth quarter. Viking Global Investors LP now owns 3,953,087 shares of the aircraft producer's stock worth $858,294,000 after buying an additional 942,536 shares during the period. Finally, Diamant Asset Management Inc. grew its holdings in shares of Boeing by 19,623.0% during the first quarter. Diamant Asset Management Inc. now owns 872,348 shares of the aircraft producer's stock worth $173,623,000 after buying an additional 867,925 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays cut Boeing from an "equal weight" rating to an "underweight" rating in a research report on Tuesday. Weiss Ratings reiterated a "sell (d+)" rating on shares of Boeing in a research note on Tuesday, July 21st. Wolfe Research downgraded Boeing from an "outperform" rating to a "hold" rating in a report on Tuesday. Tigress Financial lifted their price objective on shares of Boeing from $295.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group downgraded shares of Boeing from a "buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.58.

Boeing Stock Performance

Shares of BA stock opened at $231.50 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The stock has a 50 day simple moving average of $221.70 and a 200-day simple moving average of $222.97. The company has a market cap of $182.97 billion, a price-to-earnings ratio of 100.21 and a beta of 1.21. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

Boeing (NYSE:BA - Get Free Report) last released its earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.42). Boeing had a net margin of 2.41% and a negative return on equity of 346.82%. The business had revenue of $24.56 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same period last year, the business posted ($1.24) EPS. Boeing's revenue was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that The Boeing Company will post -0.87 EPS for the current year.

Key Stories Impacting Boeing

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: The Pentagon signed framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The seven-year arrangements could provide greater visibility for Boeing’s defense business and support incremental revenue, helping drive the stock higher. Pentagon signs deals with Boeing and RTX
• Positive Sentiment: Boeing is selling Wisk Aero, Insitu and SkyGrid to Archer Aviation in an all-stock transaction that gives Boeing an approximately 20% stake in Archer. Analysts view the deal as a way to exit a struggling, non-core air-taxi operation while retaining exposure to autonomy and electric-aircraft technologies, potentially sharpening Boeing’s turnaround focus. Boeing’s Wisk sale and portfolio strategy
• Positive Sentiment: Avolon agreed to lease up to seven Boeing 737-8200 aircraft to India’s Akasa Air. The transaction supports continued demand for Boeing’s narrow-body aircraft in one of the aviation industry’s fastest-growing markets. Avolon and Akasa Air 737 transaction
• Neutral Sentiment: Odysight.ai received a Boeing purchase order and will demonstrate AI-powered predictive-maintenance technology at two Boeing sites. The initiative could improve future maintenance capabilities and create supplier opportunities, but its immediate financial impact on BA is expected to be limited. Odysight.ai Boeing purchase order
• Neutral Sentiment: JLL is considering Boeing’s former Chicago headquarters for a potential global headquarters move. The move could benefit Boeing through property monetization or reduced real-estate obligations, though no transaction has been finalized. JLL considers Boeing’s former headquarters

Insider Buying and Selling

In related news, Director Bradley D. Tilden bought 1,370 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $218.50 per share, for a total transaction of $299,345.00. Following the completion of the transaction, the director owned 1,370 shares of the company's stock, valued at $299,345. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company's stock.

About Boeing

Boeing Company NYSE: BA is an American multinational corporation that designs, manufactures and services commercial airplanes, defense systems, and space and security technologies. Founded in 1916 by William E. Boeing in Seattle, the company today operates as an integrated aerospace and defense contractor with a global customer base. Boeing relocated its corporate headquarters to Arlington, Virginia in 2022 and maintains extensive engineering, manufacturing and service operations across the United States and around the world.

Boeing's principal lines of business include Commercial Airplanes, which produces and supports a range of jetliners used by airlines globally; Defense, Space & Security, which develops military aircraft, rotorcraft, surveillance and reconnaissance systems, satellites, and launch and missile systems; and Boeing Global Services, which provides aftermarket maintenance, training, spare parts, digital analytics and logistics support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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